Saturday, 13 Feb 2016
US Economy
Jihad for Glass-Steagall PDF Print E-mail
Written by Administrator   
Tuesday, 11 June 2013 07:06
Why Glass-Steagall?  Why can't we have "universal banks" which offer all manner of investments, insurance, loans, checking accounts, other payment services, and savings plans all under one roof, or under one board of directors?

Because, the bank doesn't own its deposits.  Unlike a department store, where everything on the shelf is owned and paid for by the company that runs the store, deposits are owned and paid for by the depositors! So, to give the bank license to use those deposits in...

Written by Leandra Bernstein   
Tuesday, 28 May 2013 09:30

Hearings continue taking place in the House and Senate to review what exactly was voted into law with the 2010 Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) even as the rules for implementing the law are still being written. According to LaRouchePAC and EIR sources on Capitol Hill, there is little to no recognition of the key fact of Dodd-Frank. Namely, Title II of the Act...

Full-Blown Civil War Erupts On Wall Street: As Reality Finally Hits The Financial Elite, They Start PDF Print E-mail
Written by david degraw   
Tuesday, 06 September 2011 09:11
Finally, after trillions in fraudulent activity, trillions in bailouts, trillions in printed money, billions in political bribing and billions in bonuses, the criminal cartel members on Wall Street are beginning to get what they deserve. As the Eurozone is coming apart at the seams and as the US economy grinds to a halt, the financial elite are starting to turn on each other. The lawsuits are piling up fast. Here’s an extensive roundup:
Stop Coddling the Super-Rich PDF Print E-mail
Written by Administrator   
Monday, 15 August 2011 10:20

Enlarge This Image


Kelly Blair

OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.

Banks are still forging foreclosure documents - May get legal immunity PDF Print E-mail
Written by Administrator   
Friday, 22 July 2011 00:34
A realtor and bank-owned sign is displayed near a house for sale in Phoenix, Arizona, January 4, 2011. REUTERS/Joshua Lott

A realtor and bank-owned sign is displayed near a house for sale in Phoenix, Arizona, January 4, 2011.

Credit: Reuters/Joshua Lott

NEW YORK | Wed Jul 20, 2011 6:24pm EDT

(Reuters) - State attorneys general are negotiating to give major banks wide immunity over irregularities in handling foreclosures, even as evidence has emerged that banks are continuing to file questionable documents.


Third world America PDF Print E-mail
Written by Administrator   
Monday, 25 October 2010 01:11
by Luiza Ch. Savage on Tuesday, September 14, 2010 7:32am - 309 Comments

 Danny Wilcox Frazier/Redux/ Robert Galbraith/Reuters/ Shannon Stapleton/Reuters



In February, the board of commissioners of Ohio’s Ashtabula County faced a scene familiar to local governments across America: a budget shortfall. They began to cut spending and reduced the sheriff’s budget by 20 per cent. A law enforcement agency staff that only a few years ago numbered 112, and had subsequently...

Last Updated on Monday, 25 October 2010 21:54
Big Wall Street Banks Have Found A New Way To Strangle The American People: Predatory Property Tax PDF Print E-mail
Written by Administrator   
Thursday, 21 October 2010 15:41

It turns out that the big Wall Street banks have found a dirty new way to make loads of cash from U.S. homeowners, and they really, really don't want to talk about it.  So what is this dirty new business?  America's biggest financial institutions have become property tax collectors, and it is extremely lucrative.  

Last Updated on Thursday, 21 October 2010 16:06
Time Magazine: Prospect Of Civil War In U.S. “Doesn’t Seem That Far Fetched” PDF Print E-mail
Written by Paul Joseph Watson   
Wednesday, 20 October 2010 16:33

October 20, 2010

Time Magazine: Prospect Of Civil War In U.S. Doesnt Seem That Far Fetched 201010top

With protesters in France entering a seventh day of strikes and demonstrations against draconian austerity measures, many political observers in the U.S. are now wondering how long it will be before similar scenes unfold on American streets, with even Time Magazine now conceding that the prospect of a civil war in the States “doesn’t seem that far fetched”.

Foreclosure Scandal Exposes Systemic Derivatives Fraud PDF Print E-mail
Written by Administrator   
Saturday, 16 October 2010 11:11
This article appears in the October 15, 2010 issue of Executive Intelligence Review. Foreclosure Scandal Exposes Systemic Derivatives Fraud

by John Hoefle

[PDF version of this article]

Oct. 9—Filing false documents in courts to obtain illegal foreclosures, breaking into homes and changing the locks while the residents are still legally living there, and even foreclosing on homes which have no mortgages—these are just some of the things the derivatives arms of...

Foreclosuregate: Obama Announces "The People Come Last" PDF Print E-mail
Written by Administrator   
Wednesday, 13 October 2010 21:15

"Foreclosuregate" is the name now spreading across Internet blog sites, to describe the rapidly escalating crisis and scandal around the phoney mortgages and MBS derivatives. The Obama administration has weighed in heavily with the dictum that the foreclosures must go ahead, regardless of the illegalities or the human consequences.


US Banks Fake Documents to Rush Foreclosures PDF Print E-mail
Written by Tom Eley   
Wednesday, 13 October 2010 16:26
Global Research, October 9, 2010 World Socialist Web Site - 2010-10-07

 Major US banks systematically faked documents in order to speed up foreclosures for hundreds of thousands of homeowners, a mounting body of evidence shows. It appears likely that federal and state laws were broken in the process.

The scandal speaks both to the dimensions of the social crisis and the criminality of the big banks. The immediate cause of the mortgage lenders’ rampant cheating on foreclosure paperwork...

Last Updated on Wednesday, 13 October 2010 20:20
Bernanke Tells the Truth: The United States is on the Brink of Financial Disaster PDF Print E-mail
Written by Administrator   
Wednesday, 06 October 2010 16:28
October 6, 2010

Yesterday, Federal Reserve Chairman Ben Bernanke delivered a speech before the the Annual Meeting of the Rhode Island Public Expenditure Council in Providence, Rhode Island. In the speech, he warned about the current state of the government finances. His conclusion, the situation is dire and “unsustainable”.

It is remarkable that mainstream media has given this speech no coverage. I repeat, the central banker of the United States says in...

Treacherous Trillions PDF Print E-mail
Written by Administrator   
Saturday, 02 October 2010 11:42
Treacherous Trillions……Missing

  The financial and political condition of America can no longer be measured, Webster’s Dictionary falls short of having adequate words to describe the real current and future landscape of our country.

  The team has been diligently following the money trail and history once again.
  This time it’s “missing” money. We have been chasing unknown trillions to far unknown destinations.
  This project began sometime ago when it was reported that...

‎19 Facts About The Deindustrialization Of America That Will Blow Your Mind PDF Print E-mail
Written by Administrator   
Monday, 27 September 2010 11:16

The Economic Collapse
Sept 26, 2010

The United States is rapidly becoming the very first “post-industrial” nation on the globe.  All great economic empires eventually become fat and lazy and squander the great wealth that their forefathers have left them, but the pace at which America is accomplishing this is absolutely amazing.  It was America that was at the forefront of the industrial revolution.


Four Shocking Bombshells Bernanke Did NOT Tell Congress About Last Week PDF Print E-mail
Written by Administrator   
Thursday, 09 September 2010 13:06

by Martin D. Weiss, Ph.D.   07-26-10


Martin D. Weiss, Ph.D.


In his testimony before Congress last week, Ben Bernanke lifted the Fed’s skirt and gave us a glimpse of the disasters now sweeping through the U.S. economy.


But there are four bombshells he did NOT talk about:


Last Updated on Thursday, 09 September 2010 13:07
Obama-Dodd-Frank FinReg Monstrosity Delays Derivatives Curbs until 2022! PDF Print E-mail
Written by Administrator   
Thursday, 15 July 2010 16:18
Webster G. Tarpley
July 15, 2010

The Obama-Dodd-Frank financial regulation bill, a miserable excuse for real Wall Street reform, is now about to gain final approval in the Senate. This wretched bill is now supported by the New England liberal (meaning Wall Street) Republican clique including Olympia Snow, Susan Collins, and Scott Brown, who are joined by the notoriously corrupt reactionary Democrat, Ben Nelson of Nebraska. This bill will create a multitude of new regulations and a number...

So We Now Have "Financial Reform"? PDF Print E-mail
Written by Administrator   
Friday, 21 May 2010 17:08

Who are these guys trying to kid?

The most-important part of the bill, stopping derivative abuse, was watered down to the point of irrelevance.  The exceptions and exemptions that remain for OTC trading are big enough to drive 200 West Street through - sideways - and Goldman will do exactly that.

U.S. Senators Propose Reinstating Glass-Steagall Act PDF Print E-mail
Written by Administrator   
Friday, 21 May 2010 00:51
By Alison Vekshin

Dec. 16 (Bloomberg) -- U.S. Senators John McCainand Maria Cantwell proposed reinstating the Depression-era Glass-Steagall Act that split commercial and investment banking to rein in Wall Street firms in response to the financial crisis.

“Under our proposal, too-big-to-fail banks would be forced to return to the business of conventional banking, leaving the task of risk taking or management to others,” McCain, an Arizona Republican, said at a Washington news...

Last Updated on Friday, 21 May 2010 00:51
Your survival depends on this bill! PDF Print E-mail
Written by Administrator   
Wednesday, 19 May 2010 13:26
May 14, 2010 (LPAC)--Lyndon LaRouche today declared that the only hope for avoiding a near-term collapse of the entire global financial system is for the U.S. Senate to pass the Cantwell-McCain amendment, reinstating the Glass Steagall Act, that separated commercial banks from brokerage and insurance firms in 1933. "If the White House and the Senate Democratic leadership don't succeed in sabotaging the vote on the Cantwell-McCain amendment next week, I believe it will pass with significant...

15 Mind-Blowing Facts About Wealth And Inequality In America PDF Print E-mail
Written by Administrator   
Sunday, 09 May 2010 22:46

By Gus Lubin

May 07, 2010 "
SFGate" -- Real average earnings have not increased in 50 years

The rich are getting richer and the poor are getting poorer.

Cliché, sure, but it's also more true than at any time since the Gilded Age.

The poor are getting poorer, wages are falling behind inflation, and social mobility is at an all-time low.

The gap between 1% and everyone else hasn't been this bad since the roaring Twenties

Bill to end bankster power heads for Senate PDF Print E-mail
Written by Administrator   
Friday, 07 May 2010 12:08

 May 6, 2010 (LPAC) — Economist Lyndon LaRouche has posed the one way to exit this worsening financial/economic disaster: a global restoration of the Glass-Steagall principle to separate real investment from toxic speculation in banking; and formation of a fixed-exchange-rate credit system by nations for new infrastructural investments.

Thousands Rally in New York for Showdown with Wall St. PDF Print E-mail
Written by Administrator   
Saturday, 01 May 2010 16:08
Thousands Rally in New York for Showdown with Wall St.By Alexander Zaitchik, AlterNet
Posted on April 30, 2010, Printed on May 1, 2010


After a year of what seemed like nonstop Tea Party coverage, it's easy to forget that Americans ever protested in anything but solid ethnic blocs, or that Americans ever gathered to express coherent grievances grounded in reality.

Yesterday's AFL-CIO-led protest on Wall Street was an overdue reminder.

More than...

Collapsing States With Massive Debt Too Big To Camouflage PDF Print E-mail
Written by Administrator   
Wednesday, 31 March 2010 18:29
March 30:

California, New York and other states are showing many of the same signs of debt overload that recently took Greece to the brink -- budgets that will not balance, accounting that masks debt, the use of derivatives to plug holes, and armies

Last Updated on Thursday, 01 April 2010 08:56
NY Times reports 7.2 million jobs lost and 11 million short PDF Print E-mail
Written by Administrator   
Saturday, 06 March 2010 19:53
January 9, 2010 Editorial Jobs and Politics

If there’s a silver lining in the December jobs report, it is this: Nothing concentrates the minds of politicians like rising unemployment in an election year. Unless Congress and the White House push a robust job-creation agenda — starting now — worsening joblessness is a distinct possibility, even if the economy in general recovers in the coming months. That means the unemployment rate could still be high or even climbing when...

CitiGroup to refuse withdrawls PDF Print E-mail
Written by Administrator   
Monday, 01 March 2010 00:56
Citigroup Warns Customers It May Refuse To Allow Withdrawals John Carney | Feb. 19, 2010, 2:57 PM | 85,307 | 61 Print...

Obama's Big Sellout PDF Print E-mail
Written by Administrator   
Wednesday, 13 January 2010 02:09

The president has packed his economic team with Wall Street insiders intent on turning the bailout into an all-out giveaway


Posted Dec 09, 2009 2:35 PM

Watch Matt Taibbi discuss "The Big Sellout" in a video on his blog, Taibblog.

Barack Obama ran for president as a man of the people, standing up to Wall Street as the global economy melted down in that fateful fall of 2008.

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